Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Carrier Management to Host New Wildfire Conference
Mar 14 2025 // Carrier Management, a sister publication of Insurance Journal, will host a free online event spotlighting wildfire risk assessment, prevention and intelligence tools for risk and insurance professionals. The first Wildfire...
Delaware Forest Service Warns of Elevated Wildfire Risk
Mar 14 2025 // Delaware officials are reporting that the ongoing drought and current weather conditions have caused an uptick in wildfires in all three counties. Due to an elevated wildfire risk, the Delaware Forest Service is urging all...
Verisk: Catastrophe Claims in Q4 Double on Late Hurricane Activity
Mar 14 2025 // A significant rise in claims from hurricanes rather than winter storms was to blame for a 36% increase in total fourth quarter 2024 claims. A new report from Verisk Analytics found catastrophe claims more than doubled year...
Insurer Payouts Now at $12B for LA Wildfires, Report Shows
Mar 12 2025 // Insurance companies have so far paid out more than $12 billion for losses from the two biggest of the Los Angeles-area wildfires that swept through the region and destroyed tens of thousands of homes in January. California...
Tornado Destroys Florida Home, Strikes TV Station During Broadcast
Mar 12 2025 // A tornado destroyed an Orlando-area home and hit a TV station while the weatherman was broadcasting about the twister, part of storm fronts that caused damage across parts of the Southeast. In Longwood, Florida, north of...
Lloyd’s Said It Will Lose $2.3B From LA Wildfires
Mar 12 2025 // Lloyd’s this week said it will lose $2.3 billion from the Los Angeles wildfires in January, adding to the number of companies that have paid out more than $1 billion in losses from the catastrophe. The company...
AM Best Revises Outlooks to Negative for Mercury and Subsidiaries Over LA Wildfires
Mar 10 2025 // AM Best revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) for the members of...
FEMA to Borrow $2 Billion to Pay Flood Claims After Hurricanes Helene and Milton
Mar 10 2025 // The Federal Emergency Management Agency said in February that it needs to borrow $2 billion from the U.S. Treasury to cover claims from National Flood Insurance Program policyholders. FEMA, administrator of NFIP, said it...
Maryland Wildfire Damage Less Extensive in 2024 Despite Severe Fall Fire Weather
Mar 7 2025 // The number of wildfires in Maryland during 2024 was much higher than the ten-year average, but acreage burned was significantly lower. In Maryland, 165 fires burned 953.4 acres during 2024, compared to 199 wildfires in...
Report: More Insurers in California Paying Wildfire Victims Without Itemized List
Mar 7 2025 // More insurers are paying contents coverage to California wildfire victims without requiring a detailed inventory, according to the California Department of Insurance. The CDI reported on responses from carriers following a...
Markets/Coverages: RenaissanceRe Launches Property Catastrophe Bond Fund
Mar 6 2025 // RenaissanceRe Holdings Ltd. announced the launch of an Irish-domiciled property catastrophe bond fund, RenaissanceRe Medici UCITS Fund (Medici UCITS). A sub-fund of RenaissanceRe Medici ICAV, Medici UCITS is purpose-built...
Los Angeles County Sues Utility Edison Over Deadly Wildfire
Mar 5 2025 // Los Angeles County sued Edison International to recoup its losses from a January wildfire that was one of the most destructive in California history. The suit alleges that equipment owned by the company’s Southern...
Rain in Carolinas May Dampen Wildfires But Threat of Tornadoes, More Fires Looms
Mar 5 2025 // The Carolinas saw some much-needed rainfall Wednesday morning, helping to quell wildfires that had burned more than 2,600 acres – but also raising the threat of tornadoes. Even with the new rainfall, insurance and...
Crews Battle Wildfires Across Parts of North and South Carolina
Mar 4 2025 // South Carolina’s governor declared a state of emergency this week as dozens of wildfires burned across parts of North and South Carolina, causing evacuations, minor property losses and unhealthy air quality. State,...
Georgia Lawmakers Must Now Fix Differences on Bill to Boost Hurricane Helene Relief
Mar 3 2025 // ATLANTA (AP) — Georgia’s state Senate wants to boost spending on Hurricane Helene relief even more, including creating a grant program that could provide aid to individuals. The state Senate voted 55-1 last week to...
UK Terrorism Reinsurer Pool Re Completes Expanded Retrocession Placement of £2.75B
Mar 3 2025 // Pool Re, Britain’s government-backed terrorism reinsurer, has completed placement of a new retrocession programme with more than 60 international reinsurers. The placement provides £2.75 billion ($3.5 billion)...
Japan Battles Worst Wildfire in 40 Years Amid Record Dry Season
Mar 3 2025 // Japan is battling its worst wildfire in four decades, forcing thousands of people to flee amid some of the driest weather on record. At least one person has been killed since the blaze broke out Feb. 26 near the the city...
Texas Lawmakers Introduce Legislation to Address Wildfire Risks and Ignition Sources
Feb 28 2025 // A year after devastating wildfires engulfed the Panhandle, killing three people and burning millions of acres, Texas lawmakers have filed a slate of legislation aimed at mitigating the risks and damage of future...
Edison Says Wildfire Fund May Shield Balance Sheet From LA Fire Claims
Feb 28 2025 // California’s $21 billion wildfire fund may shield Edison International’s balance sheet if equipment owned by the company’s electric utility is found to have caused a deadly Los Angeles fire last month,...
ZestyAI: More Than $2 Trillion in US Homes at High Risk of Wildfires
Feb 28 2025 // While Western wildfires have dominated disaster news for decades, new analysis using artificial intelligence shows millions of homes across the country—even in the swampy Southeast—are at risk for wildfires. New data...
